Silicon Valley Innovator to Open Chicago Office and Build Next-Generation Network Operations Center for the Greater Midwest
Chicago, IL – July 9, 2013 – Today, Scott Lang, Chairman, President & CEO of Silver Spring Networks, Inc. (NYSE: SSNI), joined Anne Pramaggiore, President and CEO of ComEd; Mayor of Chicago Rahm Emanuel; and Mark Hura, General Manager-Sales, North America, GE (NYSE: GE), to commence full deployment of the smart grid element of ComEd’s 10-year, $2.6 billion Infrastructure Investment Plan to strengthen the Illinois electric system. Silver Spring’s standards-based networking platform and smart grid applications will connect 4 million homes and businesses over the next 10 years across ComEd’s service territory and will unlock significant operational and consumer benefits including improved outage management, increased energy efficiency, improved grid reliability, and greater empowerment for consumers.
Silver Spring Networks also announced it will be opening a downtown Chicago office to support the rollout of ComEd’s smart grid infrastructure modernization program and will be building a next-generation network operations center to support smart grid programs in Illinois and across the greater Midwest. The office is expected to employ dozens of field engineering, project management, sales and marketing, and network infrastructure management professionals. A cutting-edge network operations center is also planned to be housed in the facility, serving both ComEd’s infrastructure modernization initiative and acting as a command center for smart grid programs across the Midwest.
“Silver Spring Networks is thrilled to partner with a forward-thinking company like ComEd to bring more technology jobs to Chicago and deliver the benefits of infrastructure innovation to all of ComEd’s customers,” said Scott Lang, Chairman, President and CEO of Silver Spring Networks. “The full deployment of ComEd’s grid modernization initiative will deliver enormous benefits to the citizens of Illinois and create a long-term foundation for greater energy efficiency, improved reliability and performance of the energy grid, and increasingly empowered citizens who can better manage their energy consumption.”
“A modern power grid that meets the needs and demands of the 21st Century is critical to ensuring long-lasting economic growth and opportunity for our citizens,” said Anne Pramaggiore, President and CEO, ComEd. “Our continuing partnership with world-class innovators like Silver Spring Networks is crucial in helping us achieve this vision.”
“The City of Chicago is excited to welcome a Silicon Valley innovator like Silver Spring Networks,” said Chicago Mayor Rahm Emanuel. “Industry leaders such as Silver Spring and ComEd are providing the innovation, expertise, and investment to create jobs and economic opportunity throughout the city and its neighborhoods.”
Silver Spring Networks’ smart infrastructure networking platform, software and services help create an intelligent, dynamic, electric delivery system and provide ComEd with critical tools to improve overall grid operational efficiency and system reliability. Silver Spring’s IPv6 networking platform can be rapidly scaled across a diverse service territory, allowing utilities to quickly and economically expand their smart grid services offerings and add new solutions on the same, standards-based platform. For more information visit www.silverspringnet.com/solutions/.
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About Silver Spring Networks
Silver Spring Networks (NYSE: SSNI) is a leading networking platform and solutions provider for smart energy networks. Silver Spring’s pioneering IPv6 networking platform, with 16.5 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring’s innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Inc., Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
Silver Spring Networks
This press release contains forward-looking statements about Silver Spring Networks’ expectations, plans, intentions, and strategies, including, but not limited to statements regarding the scope and duration of Silver Spring’s deployment with ComEd and presence in Illinois. Statements including words such as “anticipate”, “believe”, “estimate”, “expect” or “future” or “will” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks’ Form 10-Q for the quarter ended March 31, 2013 filed with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements.